From January to July 2014 the drilling companies of SOCAR decreased the drilling volume by 12.3% against the same period in 2013 to 81,123 meters.
SOCAR press office reported that share of the exploration drilling totaled 1,628 meters (decline by 71.7%) and operation drilling – 79,495 meters (decline by 8.3%).
In July 2014 the drilling companies drilled 8,993 meters, which fully fell to the operation drilling.
In 2013 SOCAR drilled 142,656 meters, of which 135,665 meters fell to the operation drilling and 6,991 meters to the exploration drilling.—0--
Economics
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Azerbaijan launched its first trade forum on Monday to highlight the opportunities and challenges faced by small and medium-sized enterprises (SMEs). The forum, titled “Opportunities, Current Situation and Challenges for SMEs,” aims to strengthen dialogue between the public and private sectors while promoting international business cooperation.
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Vahid Magerramov, Head of the Public Association for Support of Agrarian Reforms, has raised concerns over rising consumer prices in Azerbaijan, warning that the inflation trend could have serious economic consequences for the country.
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Silk production in Azerbaijan decreased by 32.9% year-on-year in the first eight months of 2024, reaching 239.4 tons, according to data released by the State Statistics Committee. The decline was attributed to a reduction in the number of silkworm seeds distributed to farmers, reflecting a longer-term trend in the sector's contraction, noted agricultural expert Vahid Maharramov.
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Sunniya Durrani-Jamal has officially taken office as the new Country Director of the Asian Development Bank (ADB) in Azerbaijan, succeeding Candice Mcdagan, who held the position since 2021. Durrani-Jamal brings over 25 years of professional experience, including 16 years in senior roles at ADB, to her new position. She previously served as ADB’s Regional Director in Cambodia and Senior Advisor to the Vice President for East Asia, Southeast Asia, and the Pacific.
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